The Bush tax cuts of 2001-2010 increased education incentives, and as a result,
A. New vertical inequities were introduced into the tax system.
B. The difference between gross incomes and taxable incomes became smaller.
C. College enrollments were expected to increase significantly.
D. Low-income households benefited more than all other households.
Answer: A
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A company could produce 100 units of a good for $320 or produce 101 units of the same good for $324. The $4 difference in costs is
A) the marginal benefit of producing the 101st unit. B) the marginal cost of producing the 101st unit. C) both the marginal benefit and the marginal cost of producing the 101st unit. D) neither the marginal benefit nor the marginal cost of producing the 101st unit.
Efficiency wages are ________
A) market clearing wages B) wages that are above the market-clearing level C) equal to the real wage rate minus the nominal wage rate D) equal to the nominal wage rate divided by some measure of the general price level
The civilian labor force consists of:
a. all civilians over the age of 16. b. the employed plus the unemployed who are not in the military. c. only individuals who are actually at work during a given week. d. civilians who are not in prisons or mental hospitals.
As the price level falls, ceteris paribus, people holding some of their wealth in monetary form become
A) less wealthy and they buy less. B) more wealthy and they buy more. C) less wealthy and they buy more. D) more wealthy and they buy less.